Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I recently switched banks. I have two checking accounts connected, my old checking which I'll call Checking1 and my new checking which I'll call Checking2. Checking1 had a balance of $580 and was fully reconciled in QB at the time I closed the account at the bank. At this bank I had that checking account and personal savings account. The teller asked if I wanted two separate checks(since I was closing both accounts) and I asked for just one check - the sum of both accounts being closed.
Now, in QB I'm stuck. I've got a $695 deposit, of which $580 is Checking1. So, really I need to "transfer" the $580 from Checking1 to Checking2, thus zeroing out Checking1 in QB. The trouble is that the remainder of $115 is to be credited to "Owner Investment".
How do I handle this deposit?
Solved! Go to Solution.
I can help you transfer the deposit to your new Checking account in QuickBooks Online (QBO), @Tawnytim. Let's go over some details and get your work done in no time.
You'll want to exclude the deposit transaction instead of splitting it. Then, manually transfer the amount of $580 into your checking account and create a bank deposit into your equity account for the $115 remainder.
Here's how to exclude a transaction:
Then, let's transfer the $580 to your checking account:
You can find the recorded transfer by checking each account register in the chart of accounts.
Lastly, let's record the record the $115 deposit into your equity account:
I've also included a detailed resource about categorizing and matching transactions which may come in handy moving forward: Categorize & match online bank transactions
You're always welcome to reach us again if you have follow-up questions about transferring a deposit to your checking account. The Community team is always around to help.
I can help you transfer the deposit to your new Checking account in QuickBooks Online (QBO), @Tawnytim. Let's go over some details and get your work done in no time.
You'll want to exclude the deposit transaction instead of splitting it. Then, manually transfer the amount of $580 into your checking account and create a bank deposit into your equity account for the $115 remainder.
Here's how to exclude a transaction:
Then, let's transfer the $580 to your checking account:
You can find the recorded transfer by checking each account register in the chart of accounts.
Lastly, let's record the record the $115 deposit into your equity account:
I've also included a detailed resource about categorizing and matching transactions which may come in handy moving forward: Categorize & match online bank transactions
You're always welcome to reach us again if you have follow-up questions about transferring a deposit to your checking account. The Community team is always around to help.
My HERO!!!! Thanks!
My colleague and I are glad to hear that the recommendations we provided helped you resolve your concerns, @Tawnytim. Please be informed that the QuickBooks Community is always available to assist you with any QBO-related tasks and provide guidance whenever you need it. If you require further assistance with the split deposit, please feel free to post your queries here anytime. We hope you have a great day ahead, and please take care and stay safe.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here